[Added 1-14-1985 by L.L. No. 2-1985; amended 10-10-1995 by L.L. No. 4-1995]
Notwithstanding the provision of of Subdivision 2(b) of § 23 of the General City Law, or of any special act, local law or charter, real property belonging to the city which is not needed for public purpose may be leased, may be exchanged and/or may be sold at public or private sale. When the Common Council discontinues a street, the property within the street right-of-way may be leased, exchanged or sold or may be allowed to revert to the adjacent property owners, provided that all costs with respect to such transfer shall be borne by the transferee of such property.